APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zjld-group" target="_blank" data-smartkarma-citation="entities:36734:1" rel="noopener">ZJLD Group (ZJLD HK)</a> is looking to raise around US$811m in its Hong Kong IPO.</li>
<li>ZJLD Group (ZJLD) is a Chinese liquor company primarily producing baijiu.</li>
<li>In this note, we will look at deal dynamics and share our thoughts on valuation.</li>
</ul>



ZJLD Group (ZJLD HK) is looking to raise around US$811m in its Hong Kong IPO.
ZJLD Group (ZJLD) is a Chinese liquor company primarily producing baijiu.
In this note, we will look at deal dynamics and share our thoughts on valuation.


ZJLD Group IPO - Sentiment Could See a Positive Shift, Mid-Bottom End Digestible

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 14th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Sensetime, Semiconductor Manufacturing International, Cnooc, China Mobile, Tencent, Meituan, Kuaishou Technology.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 14th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Sensetime, Semiconductor Manufacturing International, Cnooc, China Mobile, Tencent, Meituan, Kuaishou Technology.


Hong Kong Connect Flows (Apr 14th): Sensetime, SMIC, Cnooc, China Mobile, Tencent, Meituan, Kuaishou

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>Momentum appears to be picking up on the IPO front with a few successful listing helping sentiment</li>
<li>On the placement front, GDR flow appears to have resumed.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
Momentum appears to be picking up on the IPO front with a few successful listing helping sentiment
On the placement front, GDR flow appears to have resumed.


ECM Weekly (16th Apr 2023) - Rakuten Bank, Harita Nickel, Merdeka Battery, ZJLD, Adicon, Supcon

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/prosus-nv" target="_blank" data-smartkarma-citation="entities:28104:1" rel="noopener">Prosus (PRX NA)</a> moved 96mn shares of <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> into CCASS. Tencent shares fell hard. If the share price fell because of a block offering, that would be unwarranted. </li>
<li>
<a href="https://www.smartkarma.com/entities/ecopro-co-ltd" target="_blank" data-smartkarma-citation="entities:19029:1" rel="noopener">Ecopro (086520 KS)</a> is up an eye-watering 590% in the past three months, primarily on <a href="https://www.smartkarma.com/entities/ecopro-bm-co-ltd" target="_blank" data-smartkarma-citation="entities:27873:1" rel="noopener">Ecopro BM (247540 KS)</a>'s outperformance, together with sentiment towards soon-to-be-listed 52.8% held Ecopro Materials. </li>
<li>Japan's Finance Minister said that companies need to improve their PBRs, and that "increasing corporate value of listed companies would allow for Japan to realise sustainable growth."</li>
</ul>



Prosus (PRX NA) moved 96mn shares of Tencent (700 HK) into CCASS. Tencent shares fell hard. If the share price fell because of a block offering, that would be unwarranted. 

Ecopro (086520 KS) is up an eye-watering 590% in the past three months, primarily on Ecopro BM (247540 KS)'s outperformance, together with sentiment towards soon-to-be-listed 52.8% held Ecopro Materials. 
Japan's Finance Minister said that companies need to improve their PBRs, and that "increasing corporate value of listed companies would allow for Japan to realise sustainable growth."


Last Week in Event SPACE: Tencent, Ecopro, Japan’s Governance, Jardines, Citizen

Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

Thematic (Sector/Industry)

<ul>
<li>The Global Emerging Markets Weekly provides a summary of the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.</li>
<li>
 Macro data points: South Korean interest rates, Chinese CPI and trade data</li>
<li>
 Companies mentioned:<a href="https://www.smartkarma.com/entities/alibaba-group" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group (9988 HK)</a>, <a href="https://www.smartkarma.com/entities/softbank-group-corp" target="_blank" data-smartkarma-citation="entities:315:1" rel="noopener">Softbank Group (9984 JP)</a>, <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a>, <a href="https://www.smartkarma.com/entities/prosus-nv" target="_blank" data-smartkarma-citation="entities:28104:1" rel="noopener">Prosus (PRX NA)</a>, <a href="https://www.smartkarma.com/entities/didi-chuxing-inc" target="_blank" data-smartkarma-citation="entities:27467:1" rel="noopener">DiDi Global (DIDI US)</a>
</li>
</ul>


The Global Emerging Markets Weekly provides a summary of the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.

 Macro data points: South Korean interest rates, Chinese CPI and trade data

 Companies mentioned:Alibaba Group (9988 HK), Softbank Group (9984 JP), Tencent (700 HK), Prosus (PRX NA), DiDi Global (DIDI US)



GEM Weekly (14 Apr 2023): Chinese Trade Data, South Korean Rates; Alibaba, Tencent, Prosus, Didi

China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

Price Gauge
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Tencent (700 HK)

ZJLD Group IPO - Sentiment Could See a Positive Shift, Mid-Bottom End Digestible

ZJLD Group (ZJLD HK) is looking to raise around US$811m in its Hong Kong IPO. In this note, we will look at deal dynamics and share our thoughts on...

Clarence Chu

Hong Kong Connect Flows (Apr 14th): Sensetime, SMIC, Cnooc, China Mobile, Tencent, Meituan, Kuaishou

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Sensetime, SMIC, Cnooc, China Mobile, Tencent, Meituan,...

Ke Yan, CFA, FRM

ECM Weekly (16th Apr 2023) - Rakuten Bank, Harita Nickel, Merdeka Battery, ZJLD, Adicon, Supcon

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Last Week in Event SPACE: Tencent, Ecopro, Japan’s Governance, Jardines, Citizen

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

GEM Weekly (14 Apr 2023): Chinese Trade Data, South Korean Rates; Alibaba, Tencent, Prosus, Didi

The Global Emerging Markets Weekly provides a summary of the key news and related developments impacting the largest countries and constituents of...

Wium Malan, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)